The Dow closed at its lowest level in nearly two years after a downgrade on brokerage stocks and a slew of weak earnings and economic reports. Several Dow components and several financial stocks hit multiyear lows, with the biggest shock coming from GM, which fell to its lowest in more than 50 years.

The Dow dropped to its lowest level in nearly two years after a downgrade on brokerage stocks and a slew of weak earnings and economic reports. Several Dow components and several financial stocks hit multiyear lows, with the biggest shock coming from GM, which fell to its lowest in more than 50 years.

The Dow dropped to its lowest level in nearly two years after a downgrade on brokerage stocks and a slew of weak earnings and economic reports. Several Dow components and several financial stocks hit multiyear lows, with the biggest shock coming from GM, which fell to its lowest in more than 50 years.

This is a transcript of Warren Buffett's live interview with Becky Quick on CNBC's Power Lunch, Wednesday, June 25, 2008 at 12p ET. Buffett tells Becky U.S. inflation is "exploding" and warns that the Federal Reserve must signal controlling prices is not a secondary concern.

Warren Buffett says inflation in the U.S. is "exploding" and he urged the Federal Reserve not to signal in any way that controlling prices is a secondary goal to encouraging economic growth. "Inflation is really picking up. Whether it's steel or oil, we see it everyplace," Buffett said of rising prices. Buffett made his comments in a live interview with Becky Quick on CNBC's Power Lunch.

SABMiller, the world's largest brewer, has held informal discussions with Grupo Modelo and InBev to explore options including a merger of Modelo and SABMiller, according to sources familiar with the situation.

Everyone complains about stadium prices, but I'd argue that there's one price that has to be high: Beer. For the safety of everyone involved, it's good that a beer cost a bundle--especially at a ballgame.

Stocks bobbed up and down Thursday, struggling to hold onto gains, as investors weighed oil's retreat against a dismal manufacturing reading and a fresh wave of concern about banks. Oil slipped nearly $5, settling at $131.93 a barrel.